US Bancorp DE Sells 5,097 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

US Bancorp DE lessened its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 64.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,763 shares of the company’s stock after selling 5,097 shares during the period. US Bancorp DE’s holdings in Light & Wonder were worth $251,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after buying an additional 152 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Light & Wonder during the third quarter valued at approximately $108,000. Smith Anglin Financial LLC purchased a new stake in shares of Light & Wonder in the second quarter valued at approximately $213,000. Cynosure Group LLC bought a new position in Light & Wonder in the first quarter worth approximately $310,000. Finally, Centaurus Financial Inc. increased its holdings in Light & Wonder by 67.7% during the 2nd quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock worth $332,000 after purchasing an additional 1,279 shares during the period. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Performance

LNW opened at $92.28 on Thursday. The firm’s 50-day moving average price is $98.59 and its 200-day moving average price is $99.86. The company has a market cap of $8.19 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 0.43 and a beta of 1.75. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. Light & Wonder, Inc. has a 52-week low of $76.52 and a 52-week high of $115.00.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. Light & Wonder had a net margin of 9.30% and a return on equity of 50.89%. The business had revenue of $817.00 million during the quarter, compared to analysts’ expectations of $826.65 million. As a group, equities analysts anticipate that Light & Wonder, Inc. will post 4.41 EPS for the current fiscal year.

Light & Wonder declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LNW. Susquehanna dropped their price target on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Benchmark reissued a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research report on Thursday, August 8th. B. Riley started coverage on shares of Light & Wonder in a research report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 price target for the company. Maxim Group initiated coverage on shares of Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 price objective on the stock. Finally, Stifel Nicolaus lowered their target price on Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.36.

Light & Wonder Company Profile

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.